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16 Apr 2020

Stephenson Harwood advises JSC Halyk Bank on bond consent solicitation

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Law firm Stephenson Harwood LLP has advised Kazakhstan-based JSC Halyk Bank, in its role as issuer, on a consent solicitation process for its U.S. $500 million 7.25% notes due 2021, and its U.S.$750 million 5.5% notes due 2022.

The notes are listed on the London Stock Exchange and Luxembourg Stock Exchange respectively. Following a three week solicitation period – including an incentivised ‘early bird’ phase – Halyk Bank was successful in obtaining the consent of noteholders to apply the amendments to the notes, outlined in its consent solicitation memorandum dated 19 February 2020.

Halyk Bank, which is the largest credit institution in Kazakhstan and Central Asia, operates across a number of sectors, including retail, SMEs, corporate banking, insurance, leasing, brokerage and asset management.

The Stephenson Harwood team was led by finance and capital markets partner Jeremy Grant, with support from associate Cloe Nguyen and trainee Eliza Parr in Paris, and London-based associate Sonali Shah.

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Jeremy Grant

Jeremy Grant
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T:  +33 1 44 15 82 69 +44 20 7329 4422 M:  +33 6 85 06 66 46 Email Jeremy | Vcard Office:  London, Paris

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